House of Agriculture Spiroy SA said its first-half normalized net income came to €450,430, compared with a loss of €12,930 in the prior-year period.

Normalized net income excludes unusual gains or losses on a pre- and after-tax basis.

Total revenue fell 14.1% year over year to €8.6 million from €10.0 million, and total operating expenses declined 25.6% on an annual basis to €7.2 million from €9.6 million.

Reported net income totaled €566,210, or 2 cents per share, compared to a loss of €126,640, or a loss of 0 cents per share, in the year-earlier period.